Outbreak of Covid-19 Virus and Its Relative Impact on Real Estate Aggregators : A Situation Analysis and General Assessment with Special Reference to 99acres.Com

Corona virus had an unprecedented impact on the real estate sector in India to an extent that it has brought the construction activities to a halt and eroded the market of its potential buyer base. The transactions plunged to near zero during the nationwide lockdown, now running into short lockdown again due to increase in Covid-19 cases, the real estate sector is undergoing challenging times ahead. Indian real estate sector with a higher interdependence of supply chains, migration of labors, cost overruns and liquidity constraints are some of the emerging challenges in the path of development. The impact of Covid-19 on real estate sector is considered to be the third ‘black swan’ event in the last five years after Demonetization and the implementation of the Real Estate Act, 2016. The present study is undertaken in order to study the impact of Covid-19 on a giant real estate aggregator 99acres which is India’s No.1 online property portal.